CoreLogic: Prices to Rise 12.3 Percent in August | Katonah Real Estate

The housing recovery will keep rolling right along   through August as price increases continue to score in the double digit range   and rise for the 18th straight month, according to CoreLogic’s   pending sales index.

 

Home prices   nationwide, including distressed sales, increased 12.4 percent on a year-over-year   basis in July 2013 compared to July 2012. Prices are rising   even faster than they did in the first half of the year, when they averaged   10 percent from January through June.     On a month-over-month basis, including distressed sales, home prices   increased by 1.8 percent in July 2013 compared to June 2013,

Excluding distressed   sales, home prices increased on a year-over-year basis by 11.4 percent in   July 2013 compared to July 2012. On a month-over-month basis, excluding   distressed sales, home prices increased 1.7 percent in July 2013 compared to   June 2013. Distressed sales include short sales and real estate owned (REO)   transactions.

The CoreLogic Pending   HPI indicates that August 2013 home prices, including distressed sales, are   expected to rise by 12.3 percent on a year-over-year basis from August 2012   and rise by 0.4 percent on a month-over-month basis from July 2013. Excluding   distressed sales, August 2013 home prices are poised to rise 12.2 percent   year over year from August 2012 and by 1.2 percent month over month from July   2013. The CoreLogic Pending HPI is a proprietary and exclusive metric that   provides the most current indication of trends in home prices. It is based on   Multiple Listing Service (MLS) data that measure price changes for the most   recent month.

“Home prices   continued to surge in July,” said Dr. Mark Fleming, chief economist for   CoreLogic. “Looking ahead to the second half of the year, price growth   is expected to slow as seasonal demand wanes and higher mortgage rates have a   marginal impact on home purchase demand.”

“Home prices   continue to climb across the nation in July with markets hit hardest during   the downturn leading the way,” said Anand Nallathambi, president and CEO   of CoreLogic. “Nationally, home prices are now within 18 percent of   their peak levels reached in April of 2006.”

Highlights   as of July 2013:

  • Including        distressed sales, the five states with the highest home price        appreciation were: Nevada (+27 percent), California (+23.2 percent),        Arizona (+17 percent), Wyoming (+16.4 percent) and Oregon (+15 percent).
  • Including        distressed sales, this month only one state posted home price        depreciation: Delaware (-1.3 percent).
  • Excluding        distressed sales, the five states with the highest home price        appreciation were: Nevada (+24.2 percent), California (+20.2 percent),        Arizona (+14.9 percent), Utah (+13.5 percent) and Florida (+13.5        percent).
  • Excluding        distressed sales, no states posted home price depreciation in July.
  • Including        distressed transactions, the peak-to-current change in the national HPI        (from April 2006 to July 2013) was -17.6 percent. Excluding distressed        transactions, the peak-to-current change in the HPI for the same period        was -12.9 percent.
  • The        five states with the largest peak-to-current declines, including        distressed transactions, were Nevada (-43 percent), Florida (-37.4        percent), Arizona (-32.5 percent), Rhode Island (-29.7 percent) and        Michigan (-27.7 percent).
  • Of        the top 100 Core Based Statistical Areas (CBSAs) measured by population,        99 were showing year-over-year increases in July, equaling the measure        in June 2013.

*June data was   revised. Revisions with public records data are standard, and to ensure   accuracy, CoreLogic incorporates the newly released public data to provide   updated results.

July HPI for the   Country’s Largest CBSAs by Population (Ranked by Single-Family Including   Distressed):

CBSA

July 2013     12-Month HPI

Change by     CBSA

Single-Family     Including Distressed

Single-Family     Excluding Distressed

Los     Angeles-Long Beach-Glendale, CA

22.6%

20.1%

Riverside-San     Bernardino-Ontario, CA

22.5%

21.1%

Phoenix-Mesa-Glendale,     AZ

18.1%

15.7%

Atlanta-Sandy     Springs-Marietta, GA

15.6%

13.7%

Houston-Sugar     Land-Baytown, TX

11.1%

11.9%

Dallas-Plano-Irving,     TX

10.0%

10.7%

Washington-Arlington-Alexandria,     DC-VA-MD-WV

9.1%

9.0%

Chicago-Joliet-Naperville,     IL

8.6%

10.7%

New     York-White Plains-Wayne, NY-NJ

7.8%

8.2%

Philadelphia,     PA

4.3%

4.8%

Source:   CoreLogic.

 

 

 

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http://www.realestateeconomywatch.com/2013/09/corelogic-prices-to-rise-123-percent-in-august/

 

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